Report
Jake Strole
EUR 100.00 For Business Accounts Only

Strong Start for Fresenius Medical Care Bodes Well for Dialysis Providers

Fresenius Medical Care reported a first quarter that fell within our expectations. We're encouraged that the firm is beginning the year tracking well against its full-year outlook following a tumultuous 2018. As we update our model, we don't intend to change our fair value estimate of EUR 82 per share ($47 per ADR) for this narrow-moat franchise. With shares beginning to more convincingly converge on fair value, we'd highlight peer DaVita as an alternative investment opportunity in the space tra...
Underlying
Fresenius Medical Care AG & Co. KGaA ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jake Strole

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